Sydney listings hit six-year high, giving buyers more choice
Sydney property listings have grown to their highest level in six years, giving buyers more choice, according to PropTrack.
While, in December 2024, there was a 65.9% month-on-month drop in new listings – which is reflective of the typical season slowdown – the number of listings was 12.7% higher than in 2023.
Across the capital cities, Sydney had the second-largest increase in total listings over the year, behind Canberra.
REA Group director of economic research Cameron Kusher said the higher listing environment was reducing competition.
“There’s less desperation from buyers; people are being a lot more [selective] when they’re trying to choose a property to buy.”
He said three main factors drove more stock to the market last year:
Homeowners were at the point where they needed to upgrade
Homeowners had built significant equity in their properties and used the opportunity to sell
Higher interest rates may have forced over-extended borrowers to exit the market
Nationally, PropTrack data shows a 7.9% annual rise in new listings and a 5.7% increase in total listings.
About the author – Alex Veljancevski is a Sydney Mortgage Broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.